4. Amendment of section 22 of the principal enactment

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Section 22 of the principal enactment is hereby amended as follows:—

(1)

in the fourth proviso to subsection (3) of that section, by the substitution for the words “this Act shall be restricted to fifteen per centum other than”

of the words “this Act shall be restricted to twelve per centum other than”;

(2)

in subparagraph (i) of paragraph (b) of the second proviso to subsection 5 by the substitution for the words “an insurance bond by a registered person”

of the words “an insurance bond by a registered person to the value as determined by the

Commissioner-General”;

(3)

in subparagraph (iv) of subsection (6) of that section by the substitution for all the words and figures “(iv) if the input tax on any invoice” upto the words “the return for that taxable period” of the following:—

“(iv)

if the input tax on—

(a)

any invoice referred to in paragraph (iii)

has not been deducted as provided for in this Act, from the output tax for any taxable period ending on or before the expiry of twelve months from the date of such tax invoice, by furnishing within the said period of twelve months the return for that taxable period; or

(b)

any customs declaration referred to in paragraph (iii), has not been deducted as provided for in this Act, from the output tax for any taxable period ending on or before the expiry of twenty four months from the date of such customs declaration, by furnishing within the said period of twenty four months the return for that taxable period;”

Read on from s 5